IRS - Small Business Tax Workshops, Pt 4

This is part 4 of an 8 week series.

Lesson 4: Business Use of Your Home

• Simplified Home Office Deduction
• Qualifying for Business Use of the Home Deduction - Exclusive Use Test
• Regular Use Test
• Principal Place of Business Test
• Activities that Don't Disqualify Your Home Office
• Meeting Place for Customers Test
• Deduction Limits
• Types of Expenses
• Expenses Related to the Business Activity in the Home
• Business Use of the Home Expenses
• Deductible Expenses
• Deduction Limits - Gross Income
• Example - Determining the Home Office Deduction
• What You Can't Do
• Selling Your Home when You Used it for Business
• Illegal Tax Avoidance Schemes